According to a new survey safety, perceived value and a location close to shopping or transportation are the most important factors Ontarions consider when buying a home. Research commissioned by the Ontario Real Estate Association (OREA) revealed that 93% of Ontario residents surveyed say safety (i.e. a low crime area and building security) is important when considering properties; 85% ranked the perceived value of the home (i.e. considered a good buy based on market and amenities) as a top consideration; and 80% want the home to be close to amenities (e.g. shopping and transportation, etc.).
Not only were safety and perceived value important to those buyers planning on buying in the next year but the ongoing maintenance (yard work, condo fees, etc.) also ranked as important by 85% of those surveyed.
When asked which type of home they would prefer to buy; a new home, a resale home that was move-in ready, a home that required minor renovations, a fixer-upper that required major renovations; 39% of those surveyed prefered a move-in ready resale home.